Continental plans to withdraw 25% of ExpressJet fleet

Continental Airlines said Dec. 28 it will withdraw 69 of 274 Embraer RJs from its capacity purchase agreement with ExpressJet Airlines because the latter's rates "are above the current market."
ExpressJet may continue to sublease any of the 69 aircraft at higher rates but cannot operate them into any of CO's hubs. The ERJ-135s and dash 145s operate in the Continental Express network. ExpressJet at one time was a wholly owned subsidiary of CO but now is publicly traded.
Continental intends ...